AGF Management Ltd. increased its holdings in shares of Wabtec (NYSE:WAB - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,352 shares of the transportation company's stock after buying an additional 6,623 shares during the quarter. AGF Management Ltd.'s holdings in Wabtec were worth $11,308,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of WAB. Mufg Securities Americas Inc. acquired a new stake in Wabtec during the fourth quarter worth approximately $481,000. Raiffeisen Bank International AG bought a new position in shares of Wabtec in the fourth quarter valued at approximately $1,221,000. GF Fund Management CO. LTD. bought a new position in shares of Wabtec in the fourth quarter valued at approximately $205,000. Putney Financial Group LLC bought a new position in shares of Wabtec in the fourth quarter valued at approximately $52,000. Finally, MassMutual Private Wealth & Trust FSB increased its position in shares of Wabtec by 9.8% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 630 shares of the transportation company's stock valued at $114,000 after acquiring an additional 56 shares during the last quarter. 91.69% of the stock is currently owned by institutional investors.
Insider Transactions at Wabtec
In other news, CEO Rafael Santana sold 886 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $213.35, for a total transaction of $189,028.10. Following the transaction, the chief executive officer directly owned 141,186 shares of the company's stock, valued at $30,122,033.10. This represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David L. Deninno sold 3,000 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $201.05, for a total value of $603,150.00. Following the completion of the sale, the vice president owned 60,450 shares of the company's stock, valued at $12,153,472.50. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,222 shares of company stock valued at $3,083,767 over the last 90 days. 1.10% of the stock is owned by corporate insiders.
Wabtec Stock Down 1.0%
Shares of WAB stock traded down $1.91 during midday trading on Friday, reaching $189.06. 755,724 shares of the stock were exchanged, compared to its average volume of 1,088,777. Wabtec has a 1 year low of $151.81 and a 1 year high of $216.10. The company's 50 day moving average is $202.98 and its two-hundred day moving average is $193.37. The company has a current ratio of 1.76, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm has a market cap of $32.32 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 1.55 and a beta of 1.11.
Wabtec (NYSE:WAB - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The transportation company reported $2.27 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.09. Wabtec had a return on equity of 13.65% and a net margin of 10.92%. The firm had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.76 billion. During the same period in the previous year, the firm posted $1.96 EPS. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Wabtec will post 8.54 EPS for the current year.
Wabtec Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Thursday, August 14th. Wabtec's dividend payout ratio is presently 14.93%.
Analysts Set New Price Targets
WAB has been the subject of a number of research analyst reports. Morgan Stanley increased their price target on Wabtec from $220.00 to $226.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Susquehanna boosted their target price on Wabtec from $210.00 to $235.00 and gave the stock a "positive" rating in a research report on Friday, July 25th. KeyCorp restated an "overweight" rating and set a $240.00 target price (up from $220.00) on shares of Wabtec in a research report on Tuesday, June 24th. JPMorgan Chase & Co. dropped their price target on Wabtec from $216.00 to $200.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Wall Street Zen lowered Wabtec from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $222.57.
Get Our Latest Research Report on WAB
Wabtec Profile
(
Free Report)
Westinghouse Air Brake Technologies Corporation, together with its subsidiaries, provides technology-based locomotives, equipment, systems, and services for the freight rail and passenger transit industries worldwide. It offers diesel-electric, battery, and liquid natural gas-powered locomotives; engines, electric motors, and propulsion systems; and marine and mining products.
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